Insider Selling: T. Rowe Price Group (NASDAQ:TROW) VP Sells $1,118,200.00 in Stock

Key Points

• Insider sale: T. Rowe Price VP Joshua Nelson sold 10,000 shares for approximately $1.12 million, reducing his direct holdings by 12.3% to 71,328 shares.
• Quarterly performance: The asset manager reported $2.57 in quarterly EPS and $1.91 billion in revenue, exceeding estimates and increasing revenue 10.7% year over year.
• Dividend and sentiment: T. Rowe Price declared a quarterly dividend of $1.30, equivalent to a 4.6% annualized yield. Analysts remain cautious, with an average “Reduce” rating and a $105.67 price target versus the stock’s reported price of $111.97.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) VP Joshua Nelson sold 10,000 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total value of $1,118,200.00. Following the completion of the sale, the vice president directly owned 71,328 shares in the company, valued at $7,975,896.96. This represents a 12.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW traded down $0.90 during trading on Wednesday, hitting $111.97. 82,911 shares of the company were exchanged, compared to its average volume of 2,154,311. T. Rowe Price Group, Inc. has a 1 year low of $85.22 and a 1 year high of $122.00. The company has a market cap of $23.89 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 3.72 and a beta of 1.47. The firm's fifty day moving average price is $114.10 and its 200 day moving average price is $103.02.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a net margin of 29.26% and a return on equity of 20.91%. The business had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the firm posted $2.24 EPS. The business's revenue was up 10.7% compared to the same quarter last year. On average, research analysts forecast that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a $1.30 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.6%. T. Rowe Price Group's dividend payout ratio is currently 52.16%.

Institutional Investors Weigh In On T. Rowe Price Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. TD Private Client Wealth LLC boosted its position in T. Rowe Price Group by 91.8% during the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager's stock worth $26,000 after acquiring an additional 123 shares during the last quarter. DV Equities LLC acquired a new position in T. Rowe Price Group in the 4th quarter valued at $32,000. Bank & Trust Co lifted its stake in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock worth $36,000 after purchasing an additional 108 shares during the period. Motiv8 Investments LLC purchased a new position in shares of T. Rowe Price Group during the 4th quarter worth $35,000. Finally, Keating Financial Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group during the second quarter worth $39,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on TROW. Zacks Research downgraded T. Rowe Price Group from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Weiss Ratings raised T. Rowe Price Group from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 2nd. Morgan Stanley set a $116.00 price objective on shares of T. Rowe Price Group in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $109.00 price objective on shares of T. Rowe Price Group in a research note on Monday, August 3rd. Finally, Evercore set a $118.00 target price on shares of T. Rowe Price Group in a report on Monday, August 10th. Ten research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, T. Rowe Price Group currently has an average rating of "Reduce" and an average price target of $105.67.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm's product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.

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